Topics

Tesla Motors
Morgan Stanley: Tesla stock up 'for the wrong reasons?'
Morgan Stanley: Tesla stock up 'for the wrong reasons?'

Morgan Stanley, which recently pronounced Tesla Motors Inc. "the world's most important car company," now wants to take a little heat out of the electric car company's overheated stock price. Tesla shares, which closed Friday at $279.20, rose to their highest level last week on news that the Palo Alto, Calif., firm had closed a lucrative deal to build a $5-billion lithium-ion battery plant, the so-called gigafactory, in Nevada. Morgan Stanley recently set a target price for Tesla at $320 a share. Other analysts have suggested the stock price could go as high as $400 a share. But now, with "sobering factors to consider," the Wall Street firm asked early...

Loading